Stonepine Capital Management LLC Purchases Shares of 294,550 Grace Therapeutics, Inc. $GRCE

Stonepine Capital Management LLC acquired a new position in Grace Therapeutics, Inc. (NASDAQ:GRCE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 294,550 shares of the company’s stock, valued at approximately $62,125,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Eversept Partners LP purchased a new stake in shares of Grace Therapeutics in the first quarter worth about $3,503,000. Renaissance Technologies LLC raised its holdings in shares of Grace Therapeutics by 87.9% during the 1st quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock valued at $1,129,000 after buying an additional 114,129 shares during the period. ADAR1 Capital Management LLC lifted its position in Grace Therapeutics by 83.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock worth $2,221,000 after acquiring an additional 291,538 shares in the last quarter. Cerity Partners LLC acquired a new position in Grace Therapeutics during the 4th quarter worth approximately $1,463,000. Finally, XTX Topco Ltd purchased a new position in Grace Therapeutics in the 4th quarter worth approximately $106,000. 6.08% of the stock is owned by hedge funds and other institutional investors.

Grace Therapeutics Stock Up 0.5%

Shares of GRCE opened at $2.16 on Friday. The business’s 50 day moving average is $2.27 and its two-hundred day moving average is $2.98. Grace Therapeutics, Inc. has a 52-week low of $1.79 and a 52-week high of $5.18. The firm has a market cap of $45.45 million, a price-to-earnings ratio of -1.83 and a beta of 0.39.

Grace Therapeutics (NASDAQ:GRCE) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.78). During the same period last year, the business earned ($0.21) EPS. On average, equities analysts expect that Grace Therapeutics, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on GRCE shares. Zacks Research raised shares of Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Grace Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

Grace Therapeutics Company Profile

Grace Therapeutics, Inc (NASDAQ: GRCE) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for rare genetic diseases. By employing a proprietary platform that integrates advanced molecular biology and biologic engineering, the company focuses on identifying and optimizing gene-based and protein-based candidates designed to address well-defined genetic drivers of disease.

The company’s pipeline features multiple preclinical programs targeting lysosomal storage disorders and other inherited metabolic conditions.